This is a term used quite often in the description of films, music, or any endeavour that was undertaken and backed more with emotion, or the desire to complete it, than anything else, especially cash.

I like low budget. Sometimes it carries a negative connotation, simply because people associate money with positive and no money with the opposite. Other times "low budget" films turn out terribly due to the lack of money and are scrutinized for that reason. It is possible to create brilliant things with very little financial substance to work with, remember this.

Money is definitely not everything, long live "low budget" product.

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